Detailed Sustainability Report: Woolworths Business Practices Analysis

This report provides a comprehensive analysis of Woolworths' sustainability initiatives. It begins with an introduction defining sustainability and its relevance to the company. The report then delves into Woolworths' mission and vision statements, demonstrating their alignment with sustainable development goals. It examines the corporate governance mechanisms in place, particularly the role of the board of directors in addressing sustainability challenges. The report further outlines the guidelines for implementing environmental and social performance, including the use of sustainable raw materials, waste management, and social welfare activities. The conclusion summarizes the company's commitment to creating value for consumers while adhering to environmental regulations. References to academic sources are also provided.

SUSTAINABILITY
REPORT

Table of Contents
INTRODUCTION...........................................................................................................................1
Mission and vision statement of Woolsworth and their relativity with sustainability.................1
Governance mechanisms on the board of directors to address sustainability..............................1
Guidelines implementing Environmental and social performance:.............................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Sustainability can be define as the process which can be followed by people, organization
in order to make effective and efficient use of resources so that present generation can fulfill
their demands and also future generation do not suffer from the lack of resources.
Report will lay emphasis on Woolsworth organization. It is an Australian super market
which was being established in the year 1924. Woolworths along with Coles forms a near-
duopoly of Australian supermarkets accounting for about 80% of the Australian market. Report
will lay emphasis on the vision and mission statement of Woolsworth. It will also provide the
social and environmental aspect which needs to be followed by Woolsworth
company(Geissdoerfer and et.al., 2017).
Mission and vision statement of Woolsworth and their relativity with sustainability
Mission of Woolsworth company is to deliver quality product and also satisfy consumer
needs and wants. They ensure that they create such a bond with consumers that loyalty is been
developed in them. They also have a vision of expanding their market share in new
places(Neubauer and Lank., 2016).
The vision of organization is to be the most highly valued business by: the customers we
serve, the communities in which we operate, our loyal and committed colleagues and of course,
our shareholders(Laszlo and Zhexembayeva., 2017).
Vision and mission statement of Woolsworth organization supports sustainable
development by providing quality products which of high quality and upmarket products which
are available at affordable prices and nearly available to them and making optimum efforts to
invest in sustainable development plans and fulfilling corporate social responsibility in order to
regenerate and save natural resources which are used to provide society in return which have
been utilized by them for production.
Governance mechanisms on the board of directors to address sustainability.
Corporate governance lays hands on board of directors of Woolworths group to address
sustainability. It aims at allocating the resources of organization in a pattern that it makes and
provides maximum value to all the possible stakeholders of Woolworths group along with
maintaining sustainability. In Australia government is dedicated and is well aware about the
function of sustainable development and uses various mechanisms to make corporates react to
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the sustainability ensuring that economy and people of Australia moves towards development
without extensively depleting resources. Corporates play a major role in using resources and
replenishing of these resources should be done by corporates by fulfilling corporate social
responsibilities which are under governance of the government and law binding units to ensure
that sustainability is addressed by the corporates. The board of directors of Woolsworth group
address problem of sustainability by:
Setting committee and assigning them with responsibility of constant monitoring and guiding
towards framing strategies for sustainability and ensuring implementation f these strategies.
Getting these strategies and policies published in corporate social responsibility and making it
necessary for the board of directors to declare this report of sustainability as fair and true in all
aspects(Clayton and Radcliffe., 2018).
Showing relationship between profitability and expenses made on sustainability and maintaining
performance equilibrium.
Applying and looking forward for actioning on improved sustainability and reducing carbon
footprint for enhancing and maintaining healthy environment.
Communicating the steps taken in direction of achieving sustainability by addressing the general
public and provide report to government and displaying all the facts and figures.
Guidelines implementing Environmental and social performance:
Environmental implement ions that can be used to make the environment better is the use
of raw material which are used at Woolworth. Woolworth mainly focuses in development of
liquor which can use the natural materials in development of liquor and provide the best use of
natural material which can help in sustainability. The products used must be of natural products
which can safeguard the environment, which help in the sustainability of natural
material(Montabon., Pagell and., 2016).
Stores of Woolworth can use natural material and the use of plastics must be banned
providing a safe channel in the development of the safe environment. The environment created
can be an green channel which can affect the environmental inputs. Surrounding must be planted
with plants and trees which can help in sustainability of the environment. Use of natural material
must be done so as to safeguard the environment. Lesser and wise use of fossils which can
provide a safe channel for the environment(Baland., Bardhan and Bowles., 2018).
Woolworth must take social factors very seriously because the place where the company
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is doing its business is the society which will help the company to grow in the future as well.
There are various social factors such as knowing the need and wants of the customers, the life
style of the customers and the trends prevailing in the market. If Woolworth increase the social
performance of the company by indulging themselves more in the social welfare activities such
as run for health, plantation of trees and building of a park. All these activities will help the
company build goodwill as well as making profits in the future reporting(Solow., 2019).
CONCLUSION
From the above study it has been summarized that company has been engaged in creating value
for consumer by providing high quality products. They have been engage in following
environmental laws which has helped them in creating goodwill in market. This has also helped
them in attracting more consumers and increasing their profitability.
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REFERENCES
Baland, J.M., Bardhan, P. and Bowles, S. eds., 2018. Inequality, cooperation, and environmental
sustainability. Princeton University Press.
Clayton, T. and Radcliffe, N., 2018. Sustainability: a systems approach. Routledge.
Geissdoerfer and et.al., 2017. The Circular Economy–A new sustainability paradigm?. Journal of
cleaner production.143. pp.757-768.
Laszlo, C. and Zhexembayeva, N., 2017. Embedded sustainability. In Embedded
Sustainability (pp. 116-140). Routledge.
Montabon, F., Pagell, M. and Wu, Z., 2016. Making sustainability sustainable. Journal of Supply
Chain Management.52(2). pp.11-27.
Neubauer, F. and Lank, A.G., 2016. The family business: Its governance for sustainability.
Springer.
Solow, R.M., 2019. 25. Sustainability: an economist’s perspective. Economics of the
environment: Selected readings.
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